Bitcoin Price Analysis: 4/12/2016

Bitcoin’s upward trend continues. Will this movement reach the $450 mark and set a new maximum?

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Bitcoin Price Analysis: 4/12/2016

Bitcoin’s upward trend continues.

Will this movement reach the $450 mark and set a new maximum?

Will the price reach 450?

Bitcoin’s price failed to fortify at the key level of $417.5, hence the upward trend continues. After a failed fortification and absence of a turn to decline, there is only one option, and that is for the trend to keep going up.

BTC/USD prica chart 1

If Bitcoin’s price continues following its current trend, the next target will be at $445-50. The critical rebound line is at $422, where the largest trading volume has accumulated. The $422 mark is the probable peak of a rebound. But if Bitcoin’s price holds at it and forms a turn, a sharp drop towards the minimum of $414 will become likely.

BTC/USD price chart 2

Until the trend’s structure is disrupted, the current movement will continue. The $422 mark may become critical for the upward trend.

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